Iona Energy Inc. provides an operational update related to its Huntington Oil Field located in the UK North Sea.
In mid-September 2013, Iona was advised by the Operator of the Huntington Field, E.ON E&P, that production would be temporarily reduced to ~40% of Huntington's Floating Production Storage and Offloading (FPSO) vessel's nameplate capacity due to curtailment of the flow of Huntington gas implemented by the Operator of the Central Area Transmission System (CATS).
The Huntington Joint Venture Partners continue to work diligently through E.ON as Operator to gain clarity around the production restrictions imposed on Huntington. Previous guidance from the CATS Operator from September indicated an imminent return to full production in October. Current prognosis is that ramp-up from today's levels will now commence in early November. Since the restriction, the Huntington field and FPSO continue to operate efficiently and have produced to the maximum capacity possible under the curtailment.